The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1887-06-02
Trade Review,

NEW YORK, May ZI.-h. ". Dun 3
Weekly Trade Review says: The
most important news of the week is
also the best, that crop prospects have
decidedly improved. In view of great
speculations in wheat and cotton and
false reports carefully circulated by in
terested parties it is of service to know
that our own agents telegraph from
Wisconsin that local rains have helped
the agricultural districts; from Mime
sofa that rains throughout the north
west very materially improve the crop
prospects; from Kansas City that pros
poets are excellent for exceptionally
large crops; recent copious rains OF
great benefit; and from New Orleans
that crop prospects are generally good;
and these are samples of favorable
dispatches from nearly all quarters.
The fear of injury thus far seems sat
isfactorily removed, and If harm to
wheat or cotton is to come it must be
from climatic influences in the future.
This good news for the whole country
is disheartening, however, when tinan-
cial prospects have come to depend on
the success of gigantic speculatiOns for
an advance in prices of products. The
financial future is also affected by the
large receipts of the treasury, amount
ing for ten months and twenty days TO
316, 1857 more than the receipts for
the same part of the previous year. AT
the same rate the treasury must take
from the markets very large sum
every month after the late call for 8
per cents natures July 1st, and Wash
ington dispatches state that the adj
ministration will purchase bonds with
great reluctance, if at all. The last
statement of New York banks showed
an increase of loans and reserves, be-
cause MIR. Manning's new bank was for
the first time included, but drain of
money to Chicago to meet the needs of
speculation still continue. The return
to that point from the interior being
retarded by real estate and other activ-
ity. The extensively prevailing foreign
commerce does not improve. April i'm
ports exceed exports by SIS, 97S ,975. An
excess equaled in one month in 1882,
after the partial failure of crops and in
no other month since 1872. New York
exports, to May, fall III per cent. below
those of last year with imports exceed
ing those of last year by 17.3
per cent. which would foreshadow an
excess of about S14, 0O0, 600 in imports
this month. The prevailing specula-
tions rather than the Interstate Act
cause the decline in exports, for ship
ments of grain by lake and rail are
made without regard to local rail rates.
In cotton the exports are hardly a
quarter of those of May, 1885, and arti-
fetal prices for pork products also
cause a decrease in shipments. The
Interstate Commission has not yet re-
voked its order of suspension, but all
information tends to the belief that it
will do so and points to rigid en-
forcement of the act. Much complaint
is made even now with the rate, fol
the distance rule is not everywhere en-
| b. nf ha 4r.ava0faV- Of fra6n from
| larger to smaller towns and from East
ern to interior cities, the great mum
Der of suits commenced and complaints
filed, indicate that the costs of trans
portation will be increased rather than
diminished. Earnings still are large
and encouraging, but a war of rates in
the Northwest results from meet
ing in transit" contracts Issued by the
st. Paul and other roads, and the com
pletion of the Canadian and water
routes is felt more severely every
week. Accounts from nearly al
quarters are decidedly fav orable. AZ
Philadelphia trade is languid and there
is some complaint of slow collections
| At New Orleans money is rather tight
i or, fair with room for improvement
but other reports indicate active trad,
for the season; a good supply of money
for all legitimate business and collec
tiOns satisfactorily prompt. In thu
i ron trade Pittsburg hopes to see many
banked furnaces set at work again by
reduction in, prices of coke and termi
nation of the strike. 1t is also believed
at Detroit that the great strike of stow
moulders will end this week and worI
be resumed on Monday. a bette
trade in tobacco is noted at Cincinnati
and real estate excitement does no
abate. The great sale at Nashville re-
suited satisfactorily with heavy pur
chaseS by eastern investors and price.
are sustained with great confidence
At Omaha and other Western point.
by more favorable crop prospects. Tht
coffee market, after a week of adyanc
ing prices declined sharply yesterda,
morning. Wheat gained little durini
the week and the collapse of the cliqui
is by many apprehended. Hogs an,
pork products, with cattle were
shade lower and sugar, cotton and oil
little stronger. No definite improve
ment appears in the market for woolel
goods and the great auction sale O
flannels causes hesitation, but the mar
ket for cotton is healthy and strong
The business failures during the las
seven days, number for the Unite
States is 1853; for Canada %, a total q
us; against $50 last week and ISI tn
corresponding week last year.